bstalley's Blog : Real Estate Webmasters Blogging Platformhttp://www.realestatewebmasters.com/blogs/bstalley/
REW Blogs is the blogging platform provided by Real Estate Webmasters.com - Millions of Readers and a great community is what you will find here.http://www.realestatewebmasters.com/blogs/bstalley/study-shows-millennials-most-hopeful-about-housing-market/show/http://www.realestatewebmasters.com/blogs/bstalley/study-shows-millennials-most-hopeful-about-housing-market/show/
Study Shows Millennials Most Hopeful about Housing Market According to a recently released study, Millennials – those born between 1980 and the early 2000’s – are more confident than any other age group that a recent home purchase was a sound financial investment.

In the study, the 2013 National Association of Realtors® Home Buyer and Seller Generational Trends evaluated the generational differences of recent home buyers and sellers. The results found that, while eight out of 10 recent buyers considered their home purchase a good financial investment, the number was 85 percent for buyers under the age of 32.

“The oldest of the millennial generation are now entering the years in which people typically buy a first home, and despite the recent downturn, homeownership still matters to them,” commented Paul Bishop, NAR vice president of research. “The sheer size of the millennial generation, the largest in history after baby boomers, is expected to give a powerful boost to long-run housing demand, though in the short-term mortgage accessibility and student debt repayment remain challenges.”

The study showed other interesting trends as well. Older home buyers preferred newer homes. Millennials typically purchased homes built around 1986, nearly a decade older than those typically bought by the Silent Generation (those born 1925–1942, among the Great Depression and World War II.) Older generations also moved longer distances – typically more than 20 miles from their previous home – whereas younger buyers had a tendency to stay within 10 miles of their previous residence. Younger buyers were more likely to buy in an urban or central city area than older buyers: 21% of Millennials bought a home in an urban location compared to only 13% of Older Boomer and Silent Generation home buyers.

The largest group of recent buyers were Generation X Americans (born between 1965 and 1979), who comprised 31 percent of recent purchases. They were followed closely by Millennials, sometimes called Generation Y, at 28 percent.

When it comes to green features, younger generations placed greater importance on commuting costs than older buyers. Surprisingly, it was older buyers who placed importance on a house’s energy efficient features and living in an environmentally-friendly community.

“Another interesting finding is that Older Boomers and Silent Generation buyers found the mortgage application and approval process more difficult than expected compared to younger buyers,” said Bishop. “This underscores the ongoing challenges that many credit worthy home buyers face with today’s tight credit standards.”

As far as internet use, 90 percent of Millennials used the internet to search for homes compared to less than half of Silent Generation home buyers. Younger generations were also more likely to find the house they purchased on the internet, whereas older buyers most often learned about the house they purchased from a real estate agent.

When it came to choosing an agent, younger home buyers tended to cite an agent’s honesty and trustworthiness as the most important factor. Older buyers most often cited the agent’s knowledge of the neighborhood. While older buyers were increasingly likely to work with a previously-used real estate agent to buy or sell a home, research showed younger buyers were most often referred to their agent by a relative, neighbor, or friend.

When it comes to selling a home, however, the tables turned. Younger generations were more likely to use the same real estate agent or broker for their home sale than older sellers: 59% of Millennials used the same agent, compared to 42 % of Older Boomer sellers.

]]> Wed, 07 Aug 2013 15:25:59 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/the-benefit-of-hyperlocal-websites-for-realtors/show/http://www.realestatewebmasters.com/blogs/bstalley/the-benefit-of-hyperlocal-websites-for-realtors/show/
The Benefit of Hyperlocal Websites for REALTORS® Hyperlocal websites have been around for a few years now, and these sites are great for real estate agents who focus on certain communities within a highly competitive market. It's been said that having a niche in real estate is no longer optional if you aren't already well established, and I somewhat agree with this sentiment.

So, if your competition isn't currently using hyperlocal sites in your market – this is your chance to get ahead of the crowd.

The truth is that sites like this are great for turning your local market on its head. What I mean by this is that a well crafted hyperlocal site can trump much bigger competitors in the search results for specific terms. If you get most of your business through online registrations, this can be a great addition to your current lead-flow. After all, Google has shown a strong preference for sites that focus on a single topic (e.g. YourNeighborhoodHomes.com or YourArea.com) as compared to a larger site with a specific page focusing on the same topic.Sice sites like these are designed to be a sort of guide for the area, they will typically discuss local news, events, politics, or whatever else is popular among the residents. The key is to have great content that people actually find useful.

If you decide to invest in one of these sites, you first need to ask if there's enough volume in the given area to justify the cost of creating the website and the ongoing IDX fees. As with any website, it will take time and patience to get it running the way that you want; but when you do, the added leads can be well worth it.

Once your site is looking well-polished, you can add MLS listings, your biography, links to your own realtor website, and anything else you think people would be interested in. Just remember that a site like this is not about your goals of acquiring more leads, it's about creating unique and valuable resources that don't exist elsewhere for a targeted group of people. There are several caveats to creating sites like this, and I strongly recommend closely reading The Exact Match Domain Playbook from SEOMoz if you intend to undertake a project like this.

It's especially important not to over optimize these sites (due to Google penalties), and it's definitely a long-term investment that you may or may not be comfortable with fronting all at once. Many people say that sites like this are no longer a viable strategy, but I'm here to tell you that they most certainly are if you do it correctly.

Can you handle the truth about the Austin real estate market? It’s hard to hear, we know, but Austin homes are selling better and for more money than they were a year ago.

Actually, that’s not really so hard to take, is it?

If you’re planning on buying an Austin home, it isn’t exactly good news -- there are fewer choices and they’ll cost you more-- but if you’re on the selling end, it’s great news.

Let’s take a look at some information that will help you understand what’s happening in Austin real estate right now.

The Numbers

In early April 2013, new home listings increased four percent. Homes under contract increased almost 30 percent over the same period last year, and the average price of a home sold in the city was up 33 percent over the same period last year. Those are all really solid numbers.

For this period of 2013, the average price of a home sold was nearly $325,000.

When comparing March 2012 to March 2013, it’s easy to see that home prices are rising modestly over last years. Specifically, according to MLS numbers, the average price of a home sold in March 2012 was just over $260,000. The average price of a home sold in March 2013 was about $286,500.

An even better sign of a strong home market is that houses are selling closer to their asking prices. In March 2012, homes sold for 94 percent of their asking price on average. In March 2013, homes pulled in 97 percent of the asking price.

A Growing City

The strong numbers are no surprise to those who watch the Austin real estate market. In the period between August 2011 and July 2012, Texas experienced a population increase of 427,000 residents, according to Forbes. Austin was the fastest growing city in the state during that period, and Houston and Dallas saw strong growth too.

The trend hasn’t changed since then. In fact, it’s still increasing. People are moving to Austin for the jobs, because there’s no state income tax and because the areas is business-friendly, among many other reasons.

Plus, the University of Texas turns out talent every semester that’s ready to be picked up by a variety of industries, making this a great place for a company to operate. A great place for business, of course, is a great place for workers since there’s a steady stream of good jobs.

To help prove that Austin is growing, consider these numbers: In 2011, just over 19,000 homes sold in Austin. In 2012, more than 22,500 houses changed owners. That’s an increase in sales of nearly 18.5 percent.

The average price of homes sold rose more than 5 percent, and the median price rose almost 6.5 percent.

Another indicator of strength in the market, the average number of days a house sits on the market decreased from 80 in 2011 to just 64 in 2012, a 20 percent decrease.

Lots Of Facts

It’s a lot of facts to comprehend, but you don’t have to understand them all to see that there’s a tightening in the Austin home market. Homes are selling quicker and for more. And because the city remains desirable, this trend isn’t likely to change.

Unless there’s a major economic downturn or outside influence on the national or international level, conditions will continue to improve in Austin. That means there’s no better time to buy a house than now, although sellers who can wait may be able to achieve higher prices down the road.

Austin is a strong and vibrant city, and its housing market -- damaged in the economic downturn of 2007 and 2008 -- shows no signs of negativity now.

]]> Tue, 14 May 2013 14:00:21 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/the-new-rules-of-being-a-realtor-in-the-online-world/show/http://www.realestatewebmasters.com/blogs/bstalley/the-new-rules-of-being-a-realtor-in-the-online-world/show/
The New Rules of Being a Realtor in the Online World The internet has changed the real estate industry. It's changed the way sellers showcase their properties and has helped perspective homeowners hone in on exactly what they are looking for. The rules of being a REALTOR® in the online world have completely changed. The combination of social media and technology has made real estate a "make or break" industry for many agents and brokerages. These are just a few examples of how the real estate market is impacted by technology, social media, and the internet.

1. Impact of Technology

According to NAR, “50 percent of agents and 47 percent of brokers spent between $501 - $2,000 on technology for their business in the last 12 months.” To me, these numbers seem low. I personally know many brokers who spend upwards of $100K per year on technology to remain competitive.

The same study revealed that the top three purchases people plan to make in the next year are a smart phone, iPad and digital camera. It also revealed that over 90 percent of REALTORs® now maintain a social media presence.

2. Home Buyers and the Internet

If you don't see the impact technology is making yet, they you're probably still doing business based primarily on referrals. I'm here to tell you that there are a lot of opportunities out there for the motivated agent. Check out the results of a result NAR consumer poll says. It reported that 74 percent of potential home buyers in 2012 began their home search online. These are also national statistics, and I can say with a high degree of certainty that in Austin, this number is probably closer to 95%.

3. More Independent Searches

The same NAR poll showed another trend. When potential buyers find a property they like, they're more likely to contact the seller directly before hiring a REALTOR®. Nearly half of those polled said they had done just that. Twenty-nine percent said they found their agent through an online home search and 21 percent said they did a drive-by on homes they saw online.

4. Realtors in Cyberspace

Most REALTORs® have done an above-average job of acclimating to the overall online climate. Over the past decade, they have increased their online presence and have made excellent use of the capabilities of the Internet. One perfect example of this is in the propagation of listings on MLS (multiple Listing Services) to many sites at once. This alone has made it easier to find a better buyer's agent than ever before.

5. The Tools of the Cyber Realtor

The vast majority of today's REALTORs® have their own web sites. The most successful brokerages also utilize other online tools. Most keep an up-to-date blog. Many have sought the help of search-engine-optimized (SEO) content writers for those blogs to increase their visibility in search engines. Many distribute online press releases to inform the public of the latest news in the real estate industry, as well.

It is no secret that online technologies now drive many offline behaviors. Just ask online giants like Google. Technology is only going to continue to unfold new opportunities that will connect homeowners with perspective buyers and realtors alike. In the mean time, take advantage of some of the real estate social media tools that are already available to you today.

]]> Mon, 15 Apr 2013 14:50:41 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/five-tips-for-buying-a-home-at-auction/show/http://www.realestatewebmasters.com/blogs/bstalley/five-tips-for-buying-a-home-at-auction/show/
Five Tips for Buying a Home at AuctionBuying a home is a major decision, so it's important to understand all of your options when it comes to something like this. If you have the cash, or can secure your own financing, then you can buy homes for a fraction of the traditional rates by going to auction. But before you jump right in, there are some factors you will want to first consider, if you're serious about learning to buy homes at auction.

Tip 1: Don't Buy a Home with a Bad Title (Unless)

Do your research and know for a fact that you'll be receiving a clear title, unless you know all the costs and can factor a savings. You don't want to find yourself unknowingly responsible for the past due taxes or IRS liens on the property. Many times at home auctions you'll hear the auctioneer state that a property is “sold subject to all liens and encumbrances.” This means that, in addition to buying the house, you will need to take care of other related expenses of ensuring that the title is clear. This can include anything from back taxes due on the property to a second mortgage. Researching the title ahead of time can help keep you in the clear. After all, the point of going to a home auction is to save, not spend, money. Right?

Tip 2: Knowing About the Neighborhood is Really Important

Thorough research of the neighborhood will tell you many things, right off the bat. First, you'll be able to find out what the median price of each home is in the area. In addition, if there are several foreclosures in the area, it usually means that the price of the homes has continually dropped over time. This information is very important when deciding what to bid on a home. Finally, talking with current residents of the area could give you an honest take on the area along with other information that you wouldn't otherwise be able to find on the web.

Tip 3: Hiring a Contractor is Absolutely Worth It

If you are serious about placing a bid, make sure to bring a professional contractor to the site. A professional contractor is trained to look for any structural problems or repairs that are needed. Remember that perfectly maintained houses don't usually go to auction. Hiring a contractor will be well worth the money, as they can tell you if major investments will be needed to meet code. While you may not see any damage or structural flaws on the home, a professional contractor has an eye for detail that will definitely reduce your risk and could potentially save you from investing in a loss.

Tip 4: Bidding – It's all About Timing

When the actual bidding begins, you'll want to consider your timing. A frenzy of bidders could push the value of a house beyond what it's worth paying. In spite of doing your research, carefully planning your bid and even hiring a contractor, this can still happen. Don't overpay because you feel that you're already "invested" in a property. Several hours of your time and a few hundred dollars spent are nothing compared to getting a suboptimal deal on a house. Understanding these intricacies are what buying at auction are all about.

I believe that people should go to several auctions before actually bidding. Consider it a dress rehearsal for the real thing. If you notice a portion of buyers waiting to get a feel for the market and pricing at the beginning of the auction, then take note. Being armed with right information beforehand allows you to spot a value when it arises, and you may just benefit from a nice steal within the first hour of an auction.

Tip 5: Know What the Heck You're Doing!

Buying a home in today's market can be tricky, especially if you're not a trained real estate expert. This is why more people are considering purchasing a home at auction for a fraction of the cost. However, there are some important factors to consider, before jumping on the auction wagon right away. Conducting a little bit of research, being prepared, and understanding the proper bidding techniques are a few ways to help you kick start the journey of buying a home.

]]> Thu, 11 Apr 2013 14:57:03 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-builders-prepare-for-2013-production-what-it-means-for-real-estate-agents/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-builders-prepare-for-2013-production-what-it-means-for-real-estate-agents/show/
Austin Builders Prepare for 2013 Production: What it Means for Real Estate Agents Recently, the demand for housing in Austin has been increasing faster than inventories can keep up with. This has been great for real estate agents, giving many local brokerages the opportunity to expand their operations. In fact, local real estate agents along with mega corps like Zillow and Trulia have benefited most from the current uptick. But homebuilders are also looking to get back into the game after an extended hiatus, and this could have implications for Realtors.

A New Influx of Austin Buyers is Changing the Market Landscape

Austin has been expanding at a pretty rapid rate for the past few years now. Homebuyers coming from more expensive markets, like New York or Los Angeles, will find that housing in Austin is relatively cheap, and the quality of living is high. Our air and water are clean, we have beautiful scenic hills, and the culture has proven that Austin is a place where world-class things can happen.

In Q4 of 2012 and Q1 of this year, Austin Realtors saw great sales numbers. But now, national builders like KB and Lennar are being enticed by higher selling prices and an increase in sales volumes. KB sites an increase in the average selling price of new homes by 24% over the past year. Many builders are still in the red after the last market collapse and are hoping to use this opportunity to close the gap in 2013.

A Sleeping Giant Awakens

Before homebuilders can begin large volumes of sales, they will have to figure out how to overcome several problems currently facing the industry. The National Association of Home Builders said this week that new home demand is progressing faster than builders can keep pace. As builders struggle to deal with heightened material and labor costs, they also face the problem of a lack of readily available lots to build upon.

This is good news for Realtors, since builders will have to play catch-up in order to be ready for the summer homebuilding season. A more likely scenario is that builders won't be able to ready enough lots to fully ramp production until early Q3, which means any homes built on new lots won’t be ready until somewhere around September. There is also the possibility of other supply shortages (like lumber, concrete, or shingles), since the entire residential construction industry has scaled back to meet the reduced demand of a depressed economy. These factors should keep demand levels high for at least another quarter.

How Real Estate is Changing in Austin

The level of competition between Austin real estate brokerages has also been increasing. More established Austin firms are grabbing larger shares of the market share by expanding their businesses, leaving them well positioned for the future. Throughout all of this, smaller real estate brokerages are being forced to fight harder to keep pace, or risk being left behind.

In all, the Austin home market is seeing tremendous growth, and it’s a great time for the entire ecosystem. Smart Realtors (and business people in general) will recognize opportunities in almost any situation and adapt accordingly. At my company, we’re investing heavily in our marketing as well as opening a new office in West Austin. My hope is that we’ll see strong growth trends continue throughout the year and into 2014 before stabilizing into a leading local economy with steady sustainable growth numbers.

]]> Wed, 27 Mar 2013 14:01:59 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/how-do-i-get-search-engine-traffic-for-my-real-estate-website-for-my-area-of-expertise/show/http://www.realestatewebmasters.com/blogs/bstalley/how-do-i-get-search-engine-traffic-for-my-real-estate-website-for-my-area-of-expertise/show/
How do I get search engine traffic for my real estate website for my area of expertise? Many REALTORS® building a website with the intent to get search engine rankings and buyer traffic tend to focus on broad search terms such as "My City" real estate or "My City" home search. While these terms are productive for the top 5 websites, they are a waist of time for the rest of us. It is more realistic to focus on a specific area such as a county, area of town (West Austin for example), school district, or neighborhood. Build a webpage dedicated to the area and work on installing quality information about the area on the webpage and then work on getting backlinks to this webpage. Backlinks can be obtained from blogging (trulia.com, zillow, realestatewebmasters.com, activerain.com, your own website, etc), guest articles (post blogs on other peoples websites with their permission), article submissions (Try ezinearticles.com), and press releases from websites like prweb.com. My personal approach to targeting areas has been to create individual websites for areas such as Lake Austin homes for sale, Lake Travis homes for sale, Avery Ranch homes for sale, Steiner Ranch homes for sale, Circle C homes for sale, and Austin luxury homes for sale as a few examples. Each of these Wordpress websites were cheap to build, have quality content, and have already begun to rank well after just months after their creation. Get a good IDX provider such as IDXbroker or iHomefinder to provide the property search on your website, get quality content on the site, and get some backlinks and you will be on your way! ]]> Fri, 01 Jul 2011 14:15:06 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-statistics-may-2010/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-statistics-may-2010/show/
Austin Real Estate Market Statistics May 2010 The Austin real estate market has improved only slightly when May 2010 is compared to May 2009. This year has shown a 16% increase in home sales and 2.6% increase in the median sold price per square foot when compared to the same time period in 2009. However May 2010 still proved to us summer is among us with a 5.2% increase in the number of homes sold and a 2.3% increase in the median sold price per square foot as compared to May 2009. It is taking less time for the average homeowner to get their home sold or leased this year when compared to 2009. There has been a significant increase in the supply of homes from 3 months to 6.5 months due to a great number of people putting their home on market for sale as we enter summer.

For a more detailed market update with average cost per square foot, numbers of homes for sale, pending, and withdrawn, and more, feel free to read my full report by clicking here: Regent Property Group Market Update.

Source: The raw data in this report was provided by the Austin Board of REALTORS® but interpreted by Austin Realtor® Brian Talley of Regent Property Group. The information contained herein is subject to errors, omissions and changes without notice. Any information, statistics, analytics, recommendations or opinions provided in this report are subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Regent Property Group LLC. Statistics in this report may be updated as more information is added or changed from the source of this information.

]]> Fri, 04 Jun 2010 11:09:42 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-unemployment-and-austin-real-estate-market-update-april-2010/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-unemployment-and-austin-real-estate-market-update-april-2010/show/
Austin Unemployment and Austin Real Estate Market Update April 2010 The Austin unemployment rate experienced a slight decrease from 7.1% to 7.0% in April 2010. The State of Texas unemployment rate also decreased slightly from 8.2% in March 2010 to 8.1 in April 2010. The U.S. unemployment did decrease from 10.2% in March 2010 to 9.5% in April 2010. Austin-Round Rock-San Marcos continues to be lower than the National average.

Between January 1st and May 21st a total of 2973 single family homes sold in the city limits of Austin. While only 2587 homes sold during the same time period in 2009, which is 13% less than the same time in 2010.

Bank rates continue to remain very low at 4.84% for a 30 year fixed rate mortgage according to Freddie Mac.

Source: Raw real estate data provided by the Austin Board of REALTORS® and interpreted by Austin Realtor® Brian Talley of Regent Property Group. The unemployment data was provided by the Texas Workforce Commission and the Austin American-Statesman. Although the above information is deemed reliable, it is not guaranteed to be reliable or accurate. The information contained herein is subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC.

]]> Fri, 21 May 2010 17:25:17 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-statistics-april-2010/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-statistics-april-2010/show/
Austin Real Estate Market Statistics April 2010 Just as the temperatures are rising with summer upon us so is the Austin real estate market. Overall Austin experienced an 8% increase in the number of homes sold and a 4% price per square foot increase in April 2010 compared to April 2009. There was a 48% decrease in the supply of homes for sale with only 3 months of current inventory for single family homes.

Although the unemployment rate for Austin is 7.1% it still remains lower than the unemployment rate for the U.S. and Texas. For a more detailed update on the Austin real estate market click: Austin Real Estate Market Update and Statistics April 2010.

Source: The raw data in this report was provided by the Austin Board of REALTORS® but interpreted by luxury Austin Realtor® Brian Talley of Regent Property Group. The information contained herein is subject to errors, omissions and changes without notice. Any information, statistics, analytics, recommendations or opinions provided in this report are subject to errors and/or omissions and are not in any way guaranteed as accurate or reliable by Brian Talley or by Regent Property Group LLC. Statistics in this report may be updated as more information is added or changed from the source of this information.

]]> Thu, 13 May 2010 09:10:56 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-statistics-may-2009/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-statistics-may-2009/show/
Austin Real Estate Market Statistics May 2009Summer is here. So what does that mean for Austin real estate? Both the number of homes sold in the Austin area and the supply of homes for sale are down as compared to this time last year. There are 3,934 single-family homes actively for sale within the city limits of Austin, Texas as of 6/4/09.

Some good news is that the Austin unemployment rate has continued to decline. The overall unemployment rate for the Austin area was 6.2% in April 2009 and has gone down to 5.8% over the past month. The Austin unemployment rate remains lower than both the State of Texas and the national unemployment rate, which serves as a comforting indicator of economic strength for Austin.

For a more detailed market update with average cost per square foot, numbers of homes for sale, pending, and withdrawn, and more, feel free to read my full report on the Regent Property Group website, here.

]]> Sun, 07 Jun 2009 12:58:38 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-statistics-april-2009/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-statistics-april-2009/show/
Austin Real Estate Market Statistics April 2009 A pattern of Austin area seasonal home sale increases has held true, as the number of home sales have gradually been increasing since January of 2009. While Austin has seen 28% fewer homes sold in April 2009 than April 2008, the local unemployment rate has improved slightly since February of this year. The overall Austin unemployment rate remains lower than Texas' overall numbers, indicating strength in the Austin economy. Despite this indication of a strong Austin economy, average sold prices are down 3.4% in April 2009, as compared to April 2008, making this a great time to think about purchasing real estate in Austin.

Now, homebuyers and investors can search specifically for foreclosures in the Austin area with Regent Property Group's new search tool. Let Regent Property Group help you find your dream home in Austin, Texas!

]]> Tue, 12 May 2009 15:06:53 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-march-2009/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-march-2009/show/
Austin Real Estate Market Update March 2009According to the most recent market statistics released from the Austin Board of REALTORS®, Austin appears to be weathering the national recession well. The Austin real estate market continues to outperform many other US cities. While the overall number of homes sold in March of 2009 was lower than homes sold in March of 2008, prices have fallen only moderately over the last two quarters. The number of single-family homes has actually risen by 25% since February of this year. In addition, sold prices are up 2% per square foot which indicates a relatively strong housing market in comparison to other cities around the country.

Austin and the surrounding areas are excellent places to consider purchasing a home - With superior schools and affordable home prices, Round Rock was recently voted the seventh best place to live in the US according to a recent poll by Money Magazine. Builder Magazine named the Austin housing market the second healthiest for 2009. Furthermore, Austin is known for being environmentally conscious, landing 13th among the Environmental Protection Agency’s nationwide survey of cities with the most Energy Star-certified buildings.

Take these factors, combined with the opportunity for first-time home buyers to receive an $8,000.00 tax credit and interest rates as low as 5.10% (as of 4/7/09, according to bankrate.com), and this is an excellent time to consider purchasing Austin real estate.

Read more on the March 2009 market update and statistics from Regent Property Group by visiting their blog. Click to find Austin homes for sale, learn more about Austin neighborhoods and subdivisions, and find other related blog entries and information.

]]> Sun, 12 Apr 2009 22:23:58 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-february-2009/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-february-2009/show/
Austin Real Estate Market Update February 2009Overall, the median selling prices for homes in the Austin area are down 3.2% for February 2009, as compared to the median selling prices for February 2008. In addition, the number of homes sold in February 2009 has decreased by 41%, as compared to homes sold during February 2008. Bank rates for a 30 year fixed mortgage remain very low at 5.25% as of 3/1/09 according to bankrate.com.

So, what does all this mean? For one thing, this is an excellent time to consider purchasing a home in Austin due to low interest rates and the first-time homebuyer tax credit. First-time homebuyers have a golden opportunity to make use of low interest rates and put their $8,000 tax credit to use. For more advice relevant to the current market situation, click here to read my full blog entry on the current Austin, Texas market and how that translates for both buyers and sellers.

]]> Wed, 25 Mar 2009 12:55:59 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-2008/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-2008/show/
Austin real estate market 2008 The 2008 Austin real estate market was tumultuous, but it wasn't devastating as one has seen in other parts of the country. While the number of homes sold was down 23%, prices for single-family homes were actually up by $.82 per square foot for the year. So what does this mean? Low unemployment in Austin has kept a large number of residents from being forced to sell their home. As a result, many homeowners have chosen not to sell rather than take less than what they want to earn from the sale of their property. If unemployment can stay relatively low during 2009 then I believe that prices will most likely be flat or reduce just slightly with the number of homes sold staying flat or increasing slightly, but only time will tell. For a much more detailed account of the 2008 Austin real estate market, visit the following links including Austin real estate market update 2008 and Austin Texas real estate statistics 2008. ]]> Sat, 10 Jan 2009 11:33:47 -0800bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-november-2008/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-november-2008/show/
Austin Real Estate Market Update November 2008Austin real estate remains one of the strongest markets in the country with an overall median sold price increase for the year for Austin homes. While Austin has experienced an overall median price increase of 1.1% for the year, the number of homes sold is down 23%. Clearly the national economy is the culprit for causing the sale volume to slow here at the end of the year. To review my detailed Austin real estate market update for November 2008 click on this link. ]]> Sun, 30 Nov 2008 22:32:48 -0800bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-october-2008/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-october-2008/show/
Austin Real Estate Market Update October 2008Austin homes experienced a 1.4% price increase for sold single-family homes between September and October of 2008 - these were homes within the Austin city limits. This is opposed to the 3.2% price drop between July and August of 2008 and the 4.3% drop between August and September of 2008. Overall Austin sold home prices for the year (January thru October 2008) are up by 1.3%, which is amazing considering the turmoil in the national economy! Luxury Austin real estate prices have been hit the hardest in October 2008 with a 21% decline in sold prices over the previous month - my definition of Austin luxury homes are homes thast sold over $1M. Austin homes between $500K and $1M were second in line in price drops with a 10.6% decline in Austin home prices. Prices for Austin homes under $500K remained flat over the previous month. For a more detailed Austin real estate market update please visit my Austin Real Estate Market Update October 2008. This market update is provided by Austin REALTOR® Brian Talley of Regent Property Group LLC, helping clients buy and sell homes in Austin Texas and helping professionals purchase and lease Austin office space. ]]> Wed, 05 Nov 2008 18:12:41 -0800bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/ridge-at-lantana-market-update-3rd-quarter/show/http://www.realestatewebmasters.com/blogs/bstalley/ridge-at-lantana-market-update-3rd-quarter/show/
Ridge at Lantana Market Update 3rd Quarter The Ridge at Lantana neighborhood in southwest Austin is bucking the overal Austin trend of rising prices and reduced home sales. This 3 year old neighborhood has seen prices decline by 3% during the first three quarters of 2008 while the number of homes sold is up 8%. I've been told that the Ridge at Lantana is one of the best for homebuilders Newmark, Plantation, and Meritage who are seeing home sales declines for their new construction all over Austin. The Ridge at Lantana currently has around 250 homes and will be complete with around 330 homes. Those who purchased a new home in Lantana in the first few years of its infancy can most likely sell at a gain if they price their home right up front. Those who overprice and reduce the price incrementally seem to be sitting or selling lower than anticipated. Visit the following link to see my full Ridge at Lantana Market Update 3rd Quarter 2008. ]]> Thu, 09 Oct 2008 18:07:23 -0700bstalleyhttp://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-september-2008/show/http://www.realestatewebmasters.com/blogs/bstalley/austin-real-estate-market-update-september-2008/show/
Austin Real Estate Market Update September 2008 The Austin real estate market is still strong with an overall 1.5% price increase for single-family homes for the year (January 1 thru September 30, 2008), but the market has seen a 22% decrease in the number of homes sold proving that Austin is not immune from the current national market woes. I'm seeing many homeowners opt to pull their home off the market rather than sell at a "below market" price, thereby preserving the sales prices thus far in Austin for single-family homes. The only way I can see home prices plumetting would be if there were massive layoffs causing increased unemployment forcing homeowners to sell at whatever price they can get - possibly investor prices since demand may be low in this scenario. While I understand that the global economy is tanking as I write, I'm not yet convinced of this gloom and doom scenario in Austin Texas. My detailed market report can be found at Austin real estate market update September 2008. Anyone can search for Austin homes for sale by clicking this link. ]]> Thu, 09 Oct 2008 17:20:45 -0700bstalley